The Manufacturers Association of Nigeria (MAN) said the Federal Government is placing its N77 trillion debt burden on manufacturers through high and multiple taxes.
In the association’s first quarter (Q1) Manufacturers CEO Confidence Index (MCCI) obtained on Monday, the group said the government is using the manufacturers to generate revenue to repay its debt.
According to MAN, its members are bearing the brunt of the debt piled up by the government, stating that FG’s desperation to increase revenue and spending is crowding out private sector investment.
